v3.25.1
Segment Information - Segment Financial Data (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Segment Reporting Information      
Total revenues $ 12,011 $ 11,995  
Purchases and related costs (10,761) (10,917)  
Field operating costs (368) (358)  
Segment general and administrative expenses (100) (96)  
Total significant segment expenses (11,229) (11,371)  
Equity earnings in unconsolidated entities 103 95  
Investment and acquisition capital expenditures 826 197  
Maintenance capital expenditures 41 57  
Investments in unconsolidated entities 2,745   $ 2,811
Crude Oil      
Segment Reporting Information      
Equity earnings in unconsolidated entities 103 95  
Segment Adjusted EBITDA   553  
NGL      
Segment Reporting Information      
Segment Adjusted EBITDA   159  
Product sales revenues      
Segment Reporting Information      
Total revenues 11,544 11,546  
Services      
Segment Reporting Information      
Total revenues 467 449  
Operating Segments      
Segment Reporting Information      
Total revenues 12,077 12,089  
Operating Segments | Crude Oil      
Segment Reporting Information      
Total revenues 11,439 11,582  
Purchases and related costs (10,488) (10,665)  
Field operating costs (292) (266)  
Segment general and administrative expenses (79) (73)  
Total significant segment expenses (10,859) (11,004)  
Depreciation and amortization of unconsolidated entities 20 19  
Derivative activities and inventory valuation adjustments (24) 37  
Long-term inventory costing adjustments   (28)  
Deficiencies under minimum volume commitments, net (7) (12)  
Equity-indexed compensation expense 9 9  
Foreign currency revaluation   (17)  
Transaction-related expenses 5    
Segment amounts attributable to noncontrolling interests (127) (128)  
Total other segment items (124) (120)  
Segment Adjusted EBITDA 559    
Investment and acquisition capital expenditures 785 183  
Maintenance capital expenditures 31 46  
Investments in unconsolidated entities 2,745   $ 2,811
Operating Segments | NGL      
Segment Reporting Information      
Total revenues 638 507  
Purchases and related costs (339) (346)  
Field operating costs (76) (92)  
Segment general and administrative expenses (21) (23)  
Total significant segment expenses (436) (461)  
Derivative activities and inventory valuation adjustments (10) 122  
Long-term inventory costing adjustments (3) (5)  
Foreign currency revaluation   (4)  
Total other segment items (13) 113  
Segment Adjusted EBITDA 189    
Investment and acquisition capital expenditures 41 14  
Maintenance capital expenditures 10 11  
Operating Segments | Product sales revenues | Crude Oil      
Segment Reporting Information      
Total revenues 11,008 11,176  
Operating Segments | Product sales revenues | NGL      
Segment Reporting Information      
Total revenues 596 458  
Operating Segments | Services | Crude Oil      
Segment Reporting Information      
Total revenues 431 406  
Operating Segments | Services | NGL      
Segment Reporting Information      
Total revenues 42 49  
Intersegment revenues elimination      
Segment Reporting Information      
Total revenues (66) (94)  
Purchases and related costs 66 94  
Total significant segment expenses 66 94  
Intersegment revenues elimination | Product sales revenues      
Segment Reporting Information      
Total revenues (60) (88)  
Intersegment revenues elimination | Services      
Segment Reporting Information      
Total revenues $ (6) $ (6)